Economic Earth Shaking news as PBOC Official calls for New Bretton Woods Agreement !!

[johngaltfla]

Economic Earth Shaking news as PBOC Official calls for New Bretton Woods Agreement !!!


by John Galt
August 4, 2013 21:53 ET


So far only a headline on Bloomberg and this from FXLive:

China Securities Journal article: PBOC’s Yudong calls for new Bretton Woods

Mon, Aug 05 2013, 00:48 GMT
By: Eamonn Sheridan

People’s Bank of China official Yao Yudong has an article in the China Securities Journal calling for a new “Bretton Woods”. This is going to be interesting to keep track of, just a headline on Bloomberg at present

Holy FLIRKINGSCHIMDT!

[Thors Hammer]

Weelllll......you don't say!

[Godwit]

Meaning fixed exchange rates?

The Chinese seem to have a problem with letting market forces play out.

[MagicMan]

The slow march towards a one world currency continues unabated.

[johngaltfla]

Meaning fixed exchange rates?

The Chinese seem to have a problem with letting market forces play out.

Or elimination of dollar reserve status.....

[Earl Sinclair]

The Chinese seem to have a problem with letting market forces play out.

So does Bernake and Obama.


Earl

[argonath]

Economic Earth Shaking news as PBOC Official calls for New Bretton Woods Agreement !!!


by John Galt
August 4, 2013 21:53 ET


So far only a headline on Bloomberg and this from FXLive:

China Securities Journal article: PBOC’s Yudong calls for new Bretton Woods

Mon, Aug 05 2013, 00:48 GMT
By: Eamonn Sheridan

People’s Bank of China official Yao Yudong has an article in the China Securities Journal calling for a new “Bretton Woods”. This is going to be interesting to keep track of, just a headline on Bloomberg at present

Holy FLIRKINGSCHIMDT!

You heard it on Just Measures Radio and written here first last September.

http://www.examiner.com/article/dollar-no-longer-primary-oil-currency-as-china-begins-to-sell-oil-using-yuan

[malumprohibitum]

So, any thoughts/guesses on timing for this. Is it something that still has months to play out or is it hair on fire this week? Tomorrow?

[argonath]

China has been preparing for this, and knows that the West is on the very precipice of destruction.

All one has to do is look at what Jim Willie said a couple weeks ago... Deutsche Bank is on suicide watch. If it goes, the ECB and Eurozone fall like dominos.

And SINCE Sep of last year, China has created new partnerships, with the Brics and Australia, so that as of this moment, 3 billion people (3/7 of the globe), transact in Yuan.

China wants a gold backed currency, with gold backed trade notes (agreements)... they have a stockpile much greater than what has been reported, and access to both oil and minerals.

They could care less about the over 1 trillion they hold in Treasuries... if they get to control a gold backed currency, they not only destroy the West, but will multiply that 10-fold when gold goes to 10-50K per ounce to back the next reserve.

[nvscanman]

Meaning fixed exchange rates?

The Chinese seem to have a problem with letting market forces play out.

The Chinese play their games.....the US et.al. play games also.
Each group seeks to rig the game to their advantage. Age old
power politics masquerading as economics and business. Not
new. Be interesting to see how this one plays out as these
events are decent indicators of who has how much power and
knows how to use it best.